Aug 21 Positions Update

EURJPY – Price has come really close to my stop loss, although I still remain protected by a layer of offers up t 137.70. I will hold the position to see what happens. If stop hit, it would represent a tiny loss, so that is within early plan.

EURCHF – The level of weekly demand has acted as a reversal point, with price currently consolidating above the 1.21 area. I would expect a retest of 1.2135 first, where some profit will be taken, and let the rest of the position run. A level of supply 1.2115-20 is capping further recoveries atm. Break higher should pave way towards mentioned 1st target.

Close Orders

Took a loss in NZDUSD. Bearish sentiment has kept the pair under pressure. Bottoming pattern failed.

Pending Orders

After the overstretched USD rally, and JPY sell-off, my long limi on USDSGD and CHFJPY look like won’t be filled for quite sometime, as is the case of a short GBPUSD circa. 1.68

On the heels of Wed’s price action, there are two trades that meet my trading model rules. One would be a long GBPCAD as signs of a bottoming formation near range lows is emerging, while another appealing trade to go short is USDJPY circa 103.80 daily suppy zone, in anticipation that Yellen may push back hawks on Friday.